Cedar Point Capital Partners LLC Boosts Stock Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Cedar Point Capital Partners LLC lifted its stake in TPI Composites, Inc. (NASDAQ:TPIC) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,000 shares of the industrial products company’s stock after buying an additional 10,000 shares during the period. Cedar Point Capital Partners LLC’s holdings in TPI Composites were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TPIC. Peoples Bank KS grew its position in shares of TPI Composites by 100.0% in the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the last quarter. Quantinno Capital Management LP bought a new position in TPI Composites during the 3rd quarter valued at approximately $57,000. Intech Investment Management LLC purchased a new position in shares of TPI Composites in the 3rd quarter worth about $65,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in TPI Composites during the 3rd quarter valued at about $88,000. Finally, Quantbot Technologies LP raised its holdings in TPI Composites by 24.9% in the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after buying an additional 5,653 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

TPIC has been the subject of a number of research analyst reports. Jefferies Financial Group assumed coverage on TPI Composites in a report on Thursday, October 17th. They issued a “hold” rating and a $5.00 target price for the company. Bank of America dropped their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price objective (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.58.

TPI Composites Stock Up 7.5 %

TPIC stock opened at $1.57 on Thursday. TPI Composites, Inc. has a 52 week low of $1.10 and a 52 week high of $5.75. The firm has a market capitalization of $74.67 million, a P/E ratio of -0.42 and a beta of 1.82. The company has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $3.21.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.47). The company had revenue of $380.76 million during the quarter, compared to the consensus estimate of $346.50 million. During the same period in the prior year, the company posted ($1.71) EPS. As a group, analysts anticipate that TPI Composites, Inc. will post -3.8 EPS for the current year.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.